World VoIP NewsVelti buys mobile advertising developerVelti buys mobile advertising developer

Velti buys mobile advertising developer


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UK based mobile advertising agency, Velti has brought Media Cannon, a developer of mobile advertising tools and technology, for an undisclosed sum.
­Velti said that the acquisition provides it with a complementary technology platform and proprietary solutions, as well as a series of mobile marketing "post click" interactions. The Media Cannon platform also delivers infrastructure, API access, transcoding, support and reporting tools for mobile campaign development, delivery and evaluation.

"We're pleased to acquire an innovative company such as Media Cannon, which has forged relationships with well-known brands, advertising agencies and Tier-1 wireless carriers in the U.S.," said Alex Moukas, CEO of Velti.

In addition to the acquired technology, all of Media Cannon's management team and staff will be integrated into Velti's San Francisco office.

Velti, which is listed on the London stock exchange recently announced plans to raise US$200 million from a floatation on the NASDAQ exchange.


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